Golar LNG Energy - New Time Charter Contracts
(Thomson Reuters ONE) -
Golar LNG Energy Limited ("Golar Energy" or the "Company") is pleased to
announce that it has entered into agreements to time charter its 4 modern LNG
carriers (Golar Grand, Golar Viking, Golar Arctic and Golar Maria) for periods
of between 12 and 18 months to various charterers. Total charter coverage
amounts to 57 months. The commencement of the different fixtures ranges from
February to April 2011.
The combined annualized EBITDA contribution of all 4 vessels derived from these
time charters is approximately $80 million based on assumed levels of operating
costs. This represents attractive rates above the current spot market rate for
LNG carriers.
The spot market for LNG vessels over the last decade has been highly volatile
resulting in difficulties maintaining reasonable utilization rates. Total
operating costs for LNG carriers while not on-hire are significantly higher than
in other shipping markets; due to high fuel consumption during idling, cool down
requirements and repositioning costs. This fact, along with current attractive
charter rates, is a contributing factor with regards to the decision to fix out
the vessels for the near term.
Golar Energy's CEO, Oscar Spieler said in a comment: "The LNG shipping market
has recently tightened and these four time charters, together with the recent
success on the Nusantara Regas Project in West Java, puts the Company in a
strong position for further growth. The charter coverage will strengthen the
Company's liquidity position and create liquidity for developing additional FSRU
projects without raising additional equity. We believe that the market will
strengthen further in the years to come due to a relatively small newbuilding
order book, strong increases in LNG production, and changing trading patterns."
January 17, 2011
Hamilton, Bermuda.
Questions should be directed to:
Golar Energy Management Ltd
Oscar Spieler: CEO - +65 6296 5518
Golar Management Ltd - +44 207 063 7900:
Graham Robjohns: Chief Financial Officer
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golar LNG Energy Limited via Thomson Reuters ONE
[HUG#1480076]
Datum: 17.01.2011 - 08:50 Uhr
Sprache: Deutsch
News-ID 50485
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Kategorie:
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"Golar LNG Energy - New Time Charter Contracts"
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